Adicet Bio, Inc. (NASDAQ:ACET) Receives $7.50 Average Target Price from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.50.

ACET has been the subject of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research report on Thursday, February 27th. StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th.

Adicet Bio Stock Performance

Adicet Bio stock opened at $0.88 on Monday. The stock has a 50-day simple moving average of $0.93 and a 200 day simple moving average of $1.16. The stock has a market capitalization of $72.11 million, a P/E ratio of -0.51 and a beta of 1.86. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $2.52.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its stake in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after acquiring an additional 24,203 shares in the last quarter. FMR LLC boosted its holdings in Adicet Bio by 31.3% in the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after purchasing an additional 65,903 shares during the period. RBF Capital LLC grew its position in shares of Adicet Bio by 62.5% during the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock worth $866,000 after purchasing an additional 231,135 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Adicet Bio by 12.5% during the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after purchasing an additional 32,392 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Adicet Bio by 14.5% in the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.